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of trade, as well. yes, an ipad in china gets made and it's value point $50. but it's only about $20 of that that goes to china and the rest goes back to the u.s. we'll get into the dynamics of trade, as well, and how we measure it. we'll also be joined by the ilo director general, as well, guy rider. we'll hear from the head of the world intellectual property organization. so it's a big trade day here from geneva on "worldwide exchange." lots of great things to get into. and by the way, 157 members of the wto, shortly to be 158. kazakhstan today should get the approval, all 157 ambassadors are here. they will get approval later this afternoon. so an ever expanding membership base. >> kazakhstan being just the latest. plenty more from ross straight ahead on the program. in the meantime, we want to check in our how markets are doing. so much attention on italy. in particular, you can see the message broadly speaking this morning is in negative, we're seeing about a four to one outpacing decliners versus vapsers here. the stoxx 600 is down abo about .37%. let's take a look across the t
allegations. >> and we'll be on the floor in beijing where china's leaders just wrapped up a major conference. >>> and japan's prime minister election is calling on the bank of japan to heed the call of the masses. abe is beating the heat on the boj just one day after his party's huge win and two days after the bank's next rate setting meeting. kaori enjoji has the latest for us. how much of a game changer is all this? >> this is a serious game changer. it's a comeback for the dlp and shinzo abe. he has made it clear that the economy and economic recovery is going to be one of the pillars and hallmarks of his second time in office and he's wasting no time in piling on pressure on to the bank of japan who holds, of course, their two-day policy board meeting later on this week. here is what he had to say. >> i have constantly stressed our desire to present a policy accord in raising the inflation target to 2%. i do think it is unusual for monetary policies to come to the forefront during elections, but we have been able to gain much support for this. i hope the bank of japan will take this resu
the results of that in around about 30 minutes. >>> and china and india secretary growth slowed in november. analysts say china and india's nonmanufacturing team expected to improve thanks to a hiring boost in the mainland as well as strong new orders in india. at the same time, china's new leadership, as we pointed out, has laid out some fresh directives. >> these are some pretty sweeping reforms making china's famously inefficient bureaucracy more efficient. it's an effort to "win the confidence and the support of the people" as public backlash rose against the special treatment of politicians. so a new list of dos and don't's for chinese leaders. on the do side, cut down on giving face. the art of extreme flattery or reverence, which results in some very long meetings and speeches. keep them short and cut down on the lavish feasts. he's also encouraging more travel to rural parts of the country where the real problems are. on the don't's side, stop the empty talk. in china, niceties are often more formal and exaggerated than west. another one is don't stop traffic. if you've ever been to
daily gain in more than thee years ago china gets ready to chart its new economic plan. domestic demand is strong enough to keep the lid on growth. >>> european markets get a lift from the latest european market data showing the private sector has expanded for the first time since april and signaling europe could avoid a recession in q4. >>> and japan's business sentiment sours in the fourth quarter. this reading comes two days before a nationwide vote that suggests it will hand the ldp position a landslide win. >>> we're going to give you all the latest results from the flash december data for the pmi for the eurozone that we're just getting out. the overall, the deposit is a touch stronger for the month of december. the details show the manufacturing weakened slightly and its services strengthened slightly. they are overall still in negative territory. and we're seeing the euro/dollar respond a little bit to the downside. down about 0.01% trying to fight back into flat on the day. 130.75 is the level there. again, the services pmi is at 47.8. compared with the 47 that was expected. it
has been better in china. offer, that hasn't been enough to move stock. the recent rally we've seen, still a lot of questions as to why exactly it's happening and whether the government can put in some reforms to keep that going. hong kong, aia shares resumed trading today. this is not -- the losses for aii were not too heavy, but the hang seng ending with losses. over in australia, the s&p asx 200 gained some ground, abo about .5%. it was the big miners that gained today. and this brings the aussie market to a 17-month high. we have some minutes out from the research bank of australia. we will see monetarying easing in the form of interest rate cuts last year. it's defying expectations because we are seeing some gains of about .6%. this is despite the rbi, the research bank of india putting rates on hold. as well as the cash research ratio, which many were predicting they would cut. kelly, back to you. >>> okay. as the trading year draw toes a close, we're turning our attention to 2013. there are a number of themes to focus on, pressure on the price of oil, indisexposeble incomes a
in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate analyst in india tracking markets, technology was considered the engine of growth for the country and one of the bright spots for the market. is technology still one of the areas you are tell clients to invest in in india, or what are the sectors you're looking at? >> i think there's two sectors whether you look at india, china, or asia. there's two sectors we like. it's technology, as you said. i think that's one that -- it's a bright gem. you know, it went from, in india, from a bpo outsourcing business and has grown to an innovation business where brands are being developed and real technological gains are being had. the other sector we like is health care. the demand for health care in these markets is just continuing to grow steadily. obviously people are having longer lives, having more disposable income for health care and treat
particularly the china pmi numbers and what we've seen from gdp recently that maybe some of the markets key to u.s. exporters may be showing signs of stabilizing, maybe get to growth. so that might mean moderation in the eurozone might ease in the first quarter. but again, this is all dependent on what happens with that ongoing debt crisis and any step back in resolving that would obviously have a knock-on effect to the economy. >> i'm wondering whether germany as we look at -- they're just above sort of recession territory at the moment. i'm wondering whether if they get better growth out of asia, that will offset the weakness that they're seeing in europe enough to keep them above the pencil line. >> what we've seen so far with today's numbers is exports are declining very sharp. they'll need asia and the u.s. to offset some of that demand weakness, but again, the biggest market for most is the euro zone. if the eurozone is performing badly, that will have a thok-on effect for those countries. >> there's a number of strategists saying after the u.s. has sort of led equities for most of th
. china state picc group raising more than $3 billion. it's the territory's biggest ipo in into years. still to come, didn't have to price it toward the bottom of the indicative range, maybe a sign that the appetite from the listings remains week. and managing liquidities also a priority. this week the pboc switched back to pumping money into the banking system after withdrawing more than $40 billion over the last month. reports suggest possible $1.8 billion is a moderate amount compared to what the pboc is used to putting in. andrew, very strong session yesterday for shanghai. flat today. after a period of underperformance, will it turn around or not going into 2013? >> well, i think in the recent couple of weeks actually, we're seeing quite positive economic data coming out of china. pmi is improving. and consumer sentiment is the highest. and for the past five months. but this have not translated into a more robust market. this is because for the past two quarters, there is all bad news. so there was kind of negative feedback loops that caused the market to be oversold. and then it
.s. has slapped duties on wind turbine towers on china on price its says were unfairly cheap. this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this appears to be more import duties s. this going to be the theme of u.s./china relations, or do you expect these meetings to be more of a thaw? >> well, i think that these are the first meetings since the new leadership in china was installed. and since president obama saw -- well, won second term. i think both sides want to make use of this occasion to improve their relationship. so this joint annual meeting is a platform, and i think that they will probably be able to achieve some progress on issues of con
.s. in general is looking positive. and the u.s. is creating a lot more jobs. china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but they seem to be inwardly focused now by being a triangle of china, india, indonesia. we're not seeing a great benefit into europe as we did before. for instance, germany is looking pretty pessimistic. based on its lack of export performance to places like china. >> yeah. when the bundes bank came out and shortly downgraded forecasts, how is the employment picture? if you've got a relatively healthy china and the u.s. consumer bounce back, wouldn't that help germany? >> it certainly would. germany is relatively flat in terms of the e
. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always political risk. in italy, you do have elections coming up. there's a chance getting a higher share than people anticipate. but even then, the financial forces are going to force any government that comes into power to more or less stick to the plan morsi set out. on the other hand, there's always spain, the worries that with 25% unemployment, that you would see the default rate particularly on residential mortgages shoot up, it's 3% now, which is pretty amazing given the struggles within the economy, but we think it will go up somewhat, but really not any more than people have already priced in. >> and then ten year yields, 5.24%. at the moment, relatively speaking, pretty comfortable. >> maybe a little bit too comfortable and we certainly don't want to get complace complacent.yields are where they were say in march of this year and then subsequently they shot
in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about 1%. blame politicians in the u.s. and blame heavyweight samsung. this accounts for some 20% of market value on the kospi index. down 4%. that hurt the broader markets. this is, of course, because eu regulators are poised to excuse samsung of breaking competition rules and filing competition patent lawsuits against samsung. greater chinese markets, shanghai more isolated from global happenings and fiscal cliff
tick down towards the fiscal cliff deadline. >>> china's manufacturing activity hits its fastest pace in a year and a half. >>> and as we head towards the end of the year, global markets look at decent returns, outperformers this year include german, japanese and hong kong stocks. the u.s. senate will meet at 11:00 a.m. eastern after lawmakers tried most of sunday to avoid a fiscal cliff. proposals moved back and forth including tying social security to the chained cpi index. aides say talks between harry reid and mitch mcconnell focus on extending middle class tax breaks and renewing unemployment benefits. president obama says the u.s. markets and economy will suffer if congress fails to act. and here is what the major players had to say at least publicly this weekend. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would continue to tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. >> the sticking point appears to be a willingness, and interest or fra
, calling it a violation of u.n. security council resolutions. and china, north korea's long-time ally, also expressed regret launch calling on the state to abide by u.n. resolutions. now u.n. security council diplomats have also set up an emergency meeting today at the request of the u.s. and japan. back to you. >> all right. thanks for that. >>> the senior fellow at the school of international studies at the technological university. thanks for joining us. what does this test do today? what's the impact on regional securit security? >> short term, i don't think the impact is going to be particularly severe. in some ways it's been priced in. and for once, north korea's rocket actually did what it was supposed to do which is fly south and not pass over any territory. so in that sense, the reaction can be contained. on the other hand, it caught people by surprise. and i think there will be questions ask the about how could the intelligence -- how good the intelligence was in the u.s. and south korea in failing to pick this up. >> how significant is it that this launch appears to be successful
, americans take out insurance to rebuild their lives. but in china, no such luck. after beijing's worst downpour in decades washed out this home, he and his wife had to borrow $3100 in friends and relatives to rebuild, a small fortune on his meager salary. there's no such thing as homeowners insurance, he says. the industry here has been agreeing over the past decade, but still underdeveloped with private policies largely a foreign idea. in countries like the united states, homeowners insurance replaces pretty much whatever somebody owns. about you but here there is no such guarantees, so people are forced to salvage whatever they can on their own. as more chinese get richer, many are looking for ways two o prot their wealth and lives. >> people are some savings, a first car and all that, typically insurance product is actually a very good product for them. >> right now car insurance is popular. china is expected to become the second largest insurance market behind the u.s. by 2020. and the competition is fierce, still dominated by chinese players like picc. international insurers face
it varies by market. we saw significant growth in asia, particularly in china, double digit growth even though supply was growing fast. what we saw in europe and the u.s., we saw supply growth was restrained because there wasn't bank finance and there still isn't which means rev par is growing 6%, 7%, 8%. so it's been quite a strong market and total revenues have grown, as well. demand has grown, we've seen a robust business for the last three years and we've grown highway patrol ahead of the market which is something we try to do. >> i note that you're still expanding, as one would maybe anticipate now and asia is still a very important market. how much expansion are you doing there? >> well, the u.s. is our biggest market, about 60%. china is about 10% of our business. it's about 30% of our clients. for our companies, we have about 11% or 12% of the total pipeline in the world and effectively 30% of that is china. so china is now our second biggest market. is between -- let me get the years right. between '09 and '11, our business doubled there from $1 billion to $2 billion a year. it
china, southeast asia or from as far as the u.s., norway, etcetera in buying korean won bonds and most likely these are from the sector due to their diversification needs and attracted by the korean bond markets. and if you look at the yields, although it has already come lower quite a lot, but if you compared that with treasury yields, that is very attractive. >> we'll leave it there. thank you very much. >>> now if you're just joining us here on "worldwide exchange," these are your headlines. a union at last. the eu finance ministers hand the ecb the power to supervisor more than 150 banks following another late nightmare thon session in brussels. the euro bounces on the news, but stocks in europe trade lower as ben bernanke warns monetary policy may not be enough to offset the damage if the u.s. goes over the fiscal cliff. >>> and the u.s. takes another surprising step tying interest rates to the u.s. unemployment rate. >>> plus, investors chairing danone plan to save $2 million over the next two years as they try to offset a slump in southern europe. >>> straight ahead on the progr
. and so what i'm hoping is that in 2013, the central banks of the united states, europe, and china will find a solution to at stop the growth of that disparity. because i believe it's not right there is such a big gap between these derivatives and the actual products. >> so would a resolution of the fiscal cliff in the united states mean that america stops running up debt, would that be a positive step towards resolving that problem, even though it could be a drag on growth in the u.s. economy? >> translator: do not regard myself as a highly educated economist. from where i am, i watch the debate and i see, for example, some economists such as the nobel laureate paul goodman believe this could be counterproductive because too many action of this type could damage one of the important factors of the u.s. economy. on the other hand, unless there is some limit to the growth of u.s. debt, particularly with respect to debt as related to gdp, this could serve in the end badly if there was no limit to it. after all, the u.s. economy still accounts for about one-third of the global economy
.5% today. >>> a slowdown in the country of china is proving to be short lived. power generation and food processing firms are leading the recovery. >>> and germany's latest exports seems to be recession proof. it's a tradition dating back to the middle ages, but germany's christmas markets are more popular than ever. nbc's andy eckh artson sends this report. >> every december, music rix out across girlny's favorite christmas market. berlin alone hosts more than 80 markets, each with its own character where the sights, sounds and smells of christmas combine to keep your financial crisis at bay. >> we don't feel a crisis. when you look around here at the christmas market, you meet so different people from germany and it's so popular to come to berlin. christmas season is present season. >> over the past 20 years, germany's christmas markets have become a big attraction and big business. analysts estimate that the german christmas market industry brings in billions of dollars annually. for many small businesses and traditional craftsmen, the markets are the main source of income for the yea
Search Results 0 to 18 of about 19